LinkedIn to Buy Popular News Reading App

Reports say Microsoft and Yahoo are also interested in the app

   

LinkedIn sign 630 300x199 LinkedIn to Buy Popular News Reading AppSocial networking website LinkedIn (NYSE:LNKD) is reportedly negotiating the purchase of Pulse, a newreading app maker.

Unnamed insider sources tell AllThingsD that the deal will be priced between $50 million and $100 million. But LinkedIn could have competition. Other reports say that Yahoo (NASDAQ:YHOO) and Microsoft (NASDAQ:MSFT) are also in talks to buy the app.

iPhone4 200x200 LinkedIn to Buy Popular News Reading App
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More than 10 million news articles are read on the Pulse app every day. Alphonso Labs, the app’s developer has received $10 million in financing from a variety of private equity and investment firms.

The Pulse app has about 20 million users.

Shares of LinkedIn sank almost 2% in Tuesday trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/linkedin-to-buy-popular-news-reading-app/.

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